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John Reade @JReade_WGC
, 7 tweets, 3 min read Read on Twitter
Gold: I’ve been on the road for the past fortnight and its worth catching up where we are now. #Gold hasn’t moved too much in the past fortnight, although its at the top of its recent range.

1/6
Gold: As of 27/11 the managed money position on Comex remained net short #gold.

2/6
Gold: Gross #gold longs remain near three-year lows…

3/6
Gold: …while gross #gold shorts are steady at about 14 million ounces, about 5 million ounces less than the highs seen in October.

4/6
Gold: The biggest eye-opener I’ve seen today as I’ve been updating my charts has been the reduction in total Comex open interest in gold over the past few weeks, off more than 12 million ounces.

5/6
Gold: Since there has been no big move in the price, either longs and shorts on Comex exited the market at the same time…or large offsetting OTC and Futures positions have been unwound. The COTR on Friday will be much more interesting than normal.

6/6
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Gold: Considering that we had a very strong Employment Report out of the US on Friday, #gold performed pretty well over the past 18 trading hours. At $1291/oz at the time of writing it is some $15 above its post-NFP plunge and only about $7 below Friday morning's high.

1/6
Gold: This strength in #gold is not coming from US equity market fears, as US futures are roughly flat.

2/6
Gold: Rather it appears to be a combination of a modestly weaker US dollar, shown here as DXY over the past three days...

3/6
Read 8 tweets
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Gold: I find it ironic that that the government shutdown is making it 'harder' to trade #gold with confidence.

The CFTC's commitment of traders (COT) report is delayed indefinately while the US government is out of action.

1/3
Gold: Fortunately, Comex is not a government entity and continues to function. As you can see from here, open interest is reported daily and has increased quite a lot (4moz equiv) since 18 December.

2/3
Gold: Simplistically, with gold prices going up and OI up, speculators are likely adding to longs, driving the OI change and helping the price move higher.

I estimate the net managed money long is now at least 6.5 moz but could be more if short covering has happened too.

Ends
Read 4 tweets
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Gold: Quite a volatile session overnight in #gold following some wild moves in JPY. Commentators are struggling to explain the FX moves but concerns about global growth on Apple's cut in sales outlook and illiquidity due to a Japanese holiday seem plausible resaons.

1/4
Gold: The daily picture is less noisy and #gold continues to move higher. The 14-day Relative Strength Indicator (RSI) in XAUUSD is beginning to look a little high, but not worryingly so.

2/4
Gold: Looking at #gold in euro terms, however, and it looks more extended with the 14-day RSI above 80.

3/4
Read 5 tweets

Related threads

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In early October 2016, myself, & 2 high level prophetic voices (from USA) were led to go (in a subtle manner) and pray inside the #GOLD room of the luxe Mount Washington Hotel in Bretton Woods, NH, located in the Presidential Mountains.
This was the site of the Bretton Woods Conference from 1944. Otherwise known as the VERY formation of the IMF, the International Monetary Fund.

en.m.wikipedia.org/wiki/Bretton_W…
In that moment, we read and decreed a divorcement from Ba’al over the IMF. We decreed a 100% breakthrough and shift over the corruption with the IMF, world gold reserves, and the FED.

I don’t play.
Read 16 tweets
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Catching Up w Roman

🚢🖕🚢🖕🚢🖕🚢
A fun who's who fuq you w Abramovich:

Mystery *Girl 🔥🔥 [ Ermergerd how old is she? ]
Paul McCartney [ McBarfney ]
Stella McCarthy [ another skeevy McBarf ]
WenGe Wendi Deng Cherry Murdoch [ Grace + Chloe 2 ]

dailymail.co.uk/news/article-6…
Catching Up w Roman

🥇How about that!🥇
Highland Gold Mining Ltd
completes acquisition of
Valunisty mine owned by
Aristus Holdings Ltd 4
$91 Million

Eugene Shvidler 12.6%
Prosperity Capital Management 9.8%
Roman Abramovich 8%

So much 4 crypto🤣
http:|| tass|com/economy/1038696
Catching Up w Roman

3-7-14

Abramovich + Shvidler
tight bruhs.

Love the headline on this one:
Britain’s KGB Sugar Daddy
2 understand Britain’s cowardice
in standing up 2 Vladimir Putin,
just follow the money.

Y didn't U.K.
support RU sanctions?
thedailybeast.com/britains-kgb-s…
Read 12 tweets
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In this era of income & wealth disparity, it is worth remembering that world’s richest man that ever lived was a Moslem Black African.

Meet Mansa Musa who owned all the Gold and Salt of the Mali Empire. He had made the legendary 2 year long 6,000 mile trip to Mecca
Mansa Musa had reportedly a net worth of $400 billion in today's money (three times that of Bill Gates). His journey to perform hajj went through Cairo where he spent so much of his Gold during his 3 months stay that he caused 25% drop in its price
Empire of Mali then was a massive half million sq miles. Within it, all the Gold was the personal property of Mansa (Emperor) Musa & anyone caught stealing it was quickly executed. Other than salt and gold, the Mansa made huge income form levying taxes on passing caravans
Read 5 tweets
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Now, here’s another Christmas tale for you - or, rather, perhaps an anti-Christmas tale. Many of us have the dimmest memories of being taught that ‘Cromwell banned Christmas’ as Lord Protector. Well, let me assure you, the real story is much more interesting… THREAD /1
For those of you asleep in history class, the English Civil War was precipitated by a number of factors, all touching on one source in some regard - Charles I’s belief that as a ‘divinely-anointed’ monarch, he overruled Parliament in his personal dealings home and abroad. /2
This attitude held little water with Parliament, & after a lot of very quite interesting politicking (seriously, read up), Charles I fled London, having failed in moves to quash dissent. In late 1642 he raised his royal standard, placing England in a state of civil war. /3
Read 18 tweets
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Catching up on This Is Us.

1) I love Beth so much.
2) I appreciate the extent to which they keep complicating Randall’s relationship to Black folx.
3) it’s still really remarkable how much TV shows breeze past the staggering wealth of their ostensibly average-ass characters
4)aren’t there residency requirements for running a campaign? How is Randall running for a city council seat in Philly when he lives in north Jersey?
5) also, Deja is great.
Read 5 tweets
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Though officials backed down and didn't go through with a proposal to close 7 out of the 9 polling places in the majority Black #RandolphCounty, I warned you not to celebrate victory against #JimCrow poll closures in #Georgia. edition.cnn.com/2018/08/24/us/…
"County election officials have closed 214 precincts across the state since 2012," The Atlanta Journal-Constitution reports. "That figure means nearly 8 percent of the state’s polling places... have shut their doors over the past six years." politics.myajc.com/news/state--re… #Georgia
I reported on these poll closures in #Georgia for @DemocracyNow in 2017. Glad to see the AJC is finally catching up! gregpalast.com/democracy-now-…
Read 4 tweets

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